In a significant step toward fostering cross-continental partnerships in the manufacturing sector especially with growing businesses run by people of colour, UBIZ VC, a venture capital firm from Cleveland, Ohio makes its way to Lagos to meet with Dynatech Group.
In light of this development, the delegation paid a visit to the Oba of Oniru, the leading monarch representing Oniru — the land which is home to the upcoming 11 units of luxury duplexes known as El Magnifico by Dynatech Homes. While on the Lagos Island, UBIZ enjoyed the honor of meeting with the Oba of Oniru, HRM Oba Abdulwasiu Omogbolagban Lawal (Abisogun II). The Oba of Oniru represents a lineage and heritage that has helped shape Lagos for generations, holding a position that is both culturally significant and influential.
“Beyond courtesy,” begins Sir Chigozie Chukwudi Okafor, GMD, Dynatech Group, “this visit symbolizes a chance to connect global business with local heritage and potential, creating a bridge between the government and embassies of Nigeria and the United States.”
Ohio to Lagos: UBIZ Intensifies Niche Value Hunt
Ohio-based UBIZ VC is renowned for its dedication to investing in both high-potential African American businesses across the United States; and high-growth sectors which have qualitative products that have a big market in the USA; as well as specific businesses that need boost.
As Dr. Stanley Imoisili, Chief Product Manager at Dynatech Group notes “UBIZ VC sees Nigeria’s urban centers, particularly Lagos, as a perfect starting point for investment in manufacturing and related solutions which have high appeal in the American market.” The PR Parrots founder would go on to add “This is largely due to the attractive multiplicity and volume of both raw materials and creative productions in the region. At the moment, the Dynatech Group is set to bring all of these products to the United States through its American arm known as Dynatech Systems. That’s what this is all about”
With Dynatech’s manufacturing and recycling activities in the plastics and plastics-related industries, UBIZ will be looking to invest in a project that reflects the future of safe urban living across both sides of the globe’s hemispheres. For UBIZ, this is more than just potential business opportunity—it’s a chance to participate in Nigeria’s growth story, contributing to the broader narrative of the African story and products.
The Man, His Vision and Journey
As simply as it can be put, all of this can be traced to the dreams and visions of a teenage oriental entrepreneur some two decades ago in the humble town of Onitsha. Sir Chigozie Chukwudi Okafor who is today known as “Dynatech Boss” was once a regular youngster like any other in Onitsha looking to learn the trades and earn a living.
He obviously enjoyed the luxury of formal education; bagging a bachelor’s degree in business administration from the Nnamdi Azikiwe University, Awka. But alongside formal education, he has severally referenced the traditional entrepreneurial mentorship he received from his father as the first major foundation on which he started to operate.
However, the Dynatech empire as we know it today is a product of what can be best described as a twist of fate and stroke of genius. It happened that around twenty years ago, the teenage Sir Okafor was contracted by a firm around Onitsha to discard some “plastic waste”. Motivated by the desire to create value, Sir Okafor sat down to look through every piece of plastic he was to discard. Fortunately for him, it turned out that about half of them were still good. In that moment, he found a business opportunity — cash within trash, as he loves to call it.
He found a way to sell the “good waste” to scavengers who worked with recycling firms. After a while, he started recycling them himself, making the most of what had otherwise been condemned as waste. Two decades later, all of that has culminated in a conglomerate that spread beyond plastic product manufacturing into trade, real estate and tech.
Wrapping Things Up
From Dynatech’s plastics manufacturing activities to its tech startups to its real estate ventures such as the recent El Magnifico, UBIZ continues to explore options for investments and collaboration. This venture is set to inspire future collaborations that bridge continents, putting Nigerian products — through Dynatech Systems — in reputable shelves across markets in America and the world.
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